Dollar-Yen Closes At All Time Low

Technically, the USDJPY still has about an hour left of trading, but we will call it early: the dollar yen has closed at the all time lowest level in history. Next week the USDJPY will likely be well beneath 80, especially after the QE2 announcement on Wednesday. At least Japanese exporters are happy that in FX adjusted terms US importers now have the least incentive to buy Japanese TVs and other irrelevant stuff soon to be found all over US landfills.